Wells Fargo & Co reiterated their market perform rating on shares of Chevron Corporation (NYSE:CVX) in a research report report published on Thursday. The analysts noted that the move was a valuation call.

A number of other brokerages have also recently weighed in on CVX. BMO Capital Markets cut shares of Chevron Corporation from an outperform rating to a market perform rating and set a $120.00 price objective on the stock. in a report on Wednesday. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of Chevron Corporation from $120.00 to $130.00 and gave the stock an overweight rating in a report on Wednesday. Societe Generale cut shares of Chevron Corporation from a buy rating to a hold rating and upped their price objective for the stock from $120.00 to $130.00 in a report on Wednesday. Vetr cut shares of Chevron Corporation from a buy rating to a hold rating and set a $124.92 price objective on the stock. in a report on Monday. Finally, Macquarie upgraded shares of Chevron Corporation from a neutral rating to an outperform rating and set a $135.00 price objective on the stock in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $119.66.

Shares of Chevron Corporation (CVX) traded up 0.37% during mid-day trading on Thursday, hitting $118.64. The stock had a trading volume of 4,924,257 shares. The stock’s 50-day moving average is $116.24 and its 200 day moving average is $108.72. Chevron Corporation has a 1-year low of $99.87 and a 1-year high of $120.00. The firm has a market capitalization of $224.82 billion, a price-to-earnings ratio of 38.47 and a beta of 1.24.

Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the prior year, the firm earned ($0.78) earnings per share. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post $4.08 EPS for the current fiscal year.

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In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Insiders sold 97,812 shares of company stock worth $11,068,343 over the last quarter. Insiders own 0.38% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. New Capital Management LP raised its position in Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 4 shares during the period. Hochman Cole Investment Advisors Inc. raised its position in Chevron Corporation by 0.3% in the second quarter. Hochman Cole Investment Advisors Inc. now owns 2,682 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 7 shares during the period. Valley National Advisers Inc. raised its position in Chevron Corporation by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 11 shares during the period. Deschutes Portfolio Strategy LLC raised its position in Chevron Corporation by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after acquiring an additional 13 shares during the period. Finally, Regis Management CO LLC raised its position in Chevron Corporation by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 62.72% of the company’s stock.

About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Analyst Recommendations for Chevron Corporation (NYSE:CVX)

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